Bezeq The Israel Telecommunication Corp. Ltd. · TASE:BEZQ
Bezeq The Israel Telecommunication — Q3 2025 Earnings Presentation
26 slides from Bezeq The Israel Telecommunication's earnings presentation, 2025
Slide 1: Bezeq Group Q3-2025 Investor Presentation
Bezeq Group Q3-2025 Investor Presentation
Slide 2: Forward-Looking Information and Statement (Disclaimer)
Forward-Looking Information and Statement (Disclaimer) This presentation contains general data and information as well as forward looking statements about Bezeq - The Israeli Telecommunications Corp., Ltd. (“Bezeq”). Such statements, along with explanations and clarifications presented by Bezeq’s re
Slide 3: Bezeq Group | Q3-2025 Summary
Bezeq Group | Q3-2025 Summary 1.7% growth in core revenues to NIS 2 Adj. EBITDA grew 13.8% and Adj. Net Profit billion, due to continued growth in rose 56%, mainly due to yes’ higher strategic drivers valuation 26% increase in fiber subscribers, 4% in retail broadband ARPU, 13% in 5G Regulatory deve
Slide 4: Bezeq's Compass | Technological & Business Roadmap
Bezeq’s Compass | Technological & Business Roadmap Migration to fiber Transition to 5G Migration to IP 2020 Launch of fiber project 5G Tender Award Satellite to IP migration • 2.88m homes passed • 969k subscriber take-up (retail + wholesale) • ~1.36m postpaid subscribers Today (59% of postpaid subsc
Slide 5: Bezeq Group | Q3-2025 Summary
Bezeq Group | Q3-2025 Summary Core Revenues Adj. EBITDA Adj. Net Profit NIS 2.0 billion NIS 1.04 million NIS 482 million ~93% of Group Revenues Adjusted EBITDA margin of 48.5% 1.7% 13.8% 56.0% Excluding impact of change in yes valuation: Excluding impact of change in yes valuation: 3.9% 0.1% Free Ca
Slide 6: Bezeq Group | Q3-2025 Summary (cont'd)
Bezeq Group | Q3-2025 Summary (cont’d) Fiber Net Adds Retail Broadband ARPU Cellular subscribers Cellular ARPU Revenues 47k (2) NIS 136 2.66 million NIS 48 NIS 321 million (retail and wholesale) 3.8% 0.8% 4.3% 1.3% TV subscribers 565k Homes Passed 5G subscriber plans Fiber Subscribers 2.88 1.36 Cell
Slide 7: Bezeq Group | Q3-2025 Key Financial Highlights
Bezeq Group | Q3-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 1.7%(1) 13.8% 56% 2,234 2,235 482 2,203 2,136 2,145 974 1,013 1,041 427 915 914 365 319 273 251 257 189 150 309 41% 44% 41% 47% 49% 1,961 1,952 1,978 1,947 1,995 Q3-2024 Q4-2024 Q1-2025 Q2-2025
Slide 8: Bezeq Group | 9M-2025 Key Financial Highlights
Bezeq Group | 9M-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 2.4%(1) 8.2% 36% 6,681 6,516 2,742 2,968 1,228 900 596 900 5,781 5,920 41% 46% 9M-2024 9M-2025 9M-2024 9M-2025 9M-2024 9M-2025 Fixed-line telephony, Pelephone interconnect and Bezeq Intl consume
Slide 9: Bezeq Group | Operating Expenses
Bezeq Group | Operating Expenses | NIS million Salaries Operating Expenses 8.9% 20.6% 832 757 829 493 476 496 679 661 451 449 • Lower salary expenses due to the sale of Bezeq Online and its deconsolidation as of Q2-2025 • Lower operating expenses and Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q
Slide 10: Bezeq Group | Key Quarterly Operational Metrics
Bezeq Group | Key Quarterly Operational Metrics ARPU (NIS) Subscribers (end of period, in thousands) 187 186 189 189 189 2,639 2,633 2,631 2,645 2,661 175 172 174 172 168 131 133 134 136 136 1,397 1,383 1,366 1,351 1,339 1,012 1,008 1,003 999 990 46 45 45 46 48 563 562 561 562 565 32 31 31 30 30 474
Slide 11: Bezeq Group | Financial Debt
Bezeq Group | Financial Debt Decrease in net debt Financial Debt (NIS billion) 20.0 3.0 • Decrease of NIS 77 million, or 1.6%, to NIS 4.6 billion 18.0 2.5 16.0 1.5 1.5 1.4 1.5 (1) 2.0 14.0 1.3 Net debt/Adjusted EBITDA ratio – 1.3 times 1.5 12.0 10.0 7.9 7.6 7.7 7.5 7.5 1.0 8.0 0.5 6.0 3.2 2.7 3.0 2.
Slide 12: Bezeq Group | 2025 Outlook (Unchanged)
Bezeq Group | 2025 Outlook (Unchanged) Original Outlook Outlook as of Revised Outlook)1( March 12, 2025 May 11, 2025 July 30, 2025 Adj. EBITDA (1) NIS 3.7 billion NIS 3.75 billion NIS 3.85 billion Adj. net profit (1) NIS 1.2 billion NIS 1.32 billion NIS 1.45 billion CapEx NIS 1.75 billion Unchanged
Slide 13: Bezeq Fixed-Line | Q3-2025 Summary
Bezeq Fixed-Line | Q3-2025 Summary Fixed-Line core revenues increased Retail fiber customers 2.2% to NIS 991 million, driven by reached 616k as of today, higher revenues from transmission with 3.8% growth in retail and data communications, broadband ARPU reaching broadband and cloud & digital NIS 13
Slide 14: Bezeq Fixed-Line | Q3-2025 Key Financial Highlights
Bezeq Fixed-Line | Q3-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 2.2%(1) 0.5% 10.5% 1,105 1,071 1,101 1,102 1,111 638 656 648 643 641 239 265 261 135 128 128 123 120 216 214 970 973 979 991 58% 61% 59% 58% 58% 943 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025
Slide 15: Bezeq Fixed-Line | Continued Fiber Deployment and Take-Up Focus
Bezeq Fixed-Line | Continued Fiber Deployment and Take-Up Focus Total Fiber Take-Up (thousands, Retail and Wholesale) Homes Passed (thousands) 2,571 2,671 2,774 2,859 2,882 140 0 31% 32% 32% 33% 33% 34% 35. 0% 2,448 120 0 863 907 954 969 30. 0% 100 0 759 810 25. 0% 20. 0% 800 15. 0% 10. 0% 600 5.0 %
Slide 16: Bezeq Fixed-Line | Fiber Take-Up – Retail and Wholesale
Bezeq Fixed-Line | Fiber Take-Up – Retail and Wholesale Retail vs. Wholesale (Thousands) Copper vs. Fiber (Thousands ) 1,486 1,479 1,477 1,476 1,473 1,486 1,479 1,477 1,476 1,473 474 471 474 477 483 759 810 863 907 954 1,012 1,008 1,003 999 990 727 669 614 569 519 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-
Slide 17: Bezeq Fixed-Line | Q3-2025 Revenues
Bezeq Fixed-Line | Q3-2025 Revenues | NIS million Broadband Revenues Transmission & Data Cloud & Digital 1.6% 4.7% 5.7% 508 508 296 292 302 309 310 87 87 87 90 92 500 504 505 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Telep
Slide 18: Pelephone | Q3-2025 Summary
Pelephone | Q3-2025 Summary Highest service revenues in a Highest ARPU in 6 years reaching decade, driven by continued NIS 48, up 4.3%, a Y-o-Y increase growth in postpaid subscribers, of NIS 2 including 5G subscriber plans as well as higher roaming revenues 5G postpaid subscriber plans grew by 33k
Slide 19: Pelephone | Q3-2025 Key Financial Highlights
Pelephone | Q3-2025 Key Financial Highlights | NIS million Revenues Adjusted EBITDA Adjusted Net Profit 2.2% 5.8% 9.8% 506 524 525 496 517 191 193 186 186 202 41 141 169 165 135 136 36 33 32 37 365 355 360 361 381 38% 37% 35% 38% 39% Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2
Slide 20: Pelephone | Growth in Service Revenues and 5G Plans
Pelephone | Growth in Service Revenues and 5G Plans Postpaid Subscribers on 5G Plans Comparison of Service Revenues in Q3 (Thousands) (NIS million) 12.8% 4.4% 1,276 1,315 1,348 1,359 1,195 1,237 361 371 365 381 279 312 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 As of Q3-2020 Q3-2021 Q3-2022 Q3-2023 Q3-
Slide 21: Pelephone | Q3-2025 Key Operational Metrics
Pelephone | Q3-2025 Key Operational Metrics Subscribers (Thousands) ARPU (NIS) 0.8% 4.3% 2,639 2,633 2,631 2,645 2,661 388 376 366 366 366 46 45 45 46 48 2,251 2,257 2,265 2,279 2,295 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Postpaid Prepaid • Continued growth
Slide 22: yes | Q3-2025 Summary
yes | Q3-2025 Summary Revenues increased 1.3% to NIS 321 TV subscribers increased by 3k million, due to higher revenues from the sequentially, reaching 565k, and TV + fiber bundle representing the highest quarterly increase since Q4-2022 Adj. EBITDA rose 69% to NIS 59 million, driven by an improveme
Slide 23: yes | Q3-2025 Key Financial Highlights
yes | Q3-2025 Key Financial Highlights | NIS Million Revenues Adjusted EBITDA Adjusted Net Loss 1.3% 69% 97% 317 317 319 320 321 (1) 51 49 56 59 (5) 35 (16) (22) 16% 15% 18% 18% (30) 11% Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q
Slide 24: yes | Q3-2025 Key Operational Metrics
yes | Q3-2025 Key Operational Metrics Subscribers (Thousands) ARPU (NIS) 0.4% 1.1%(1) 189 189 189 175 187 172 186 174 172 168 • Second consecutive 563 562 561 562 565 quarter with Q-o-Q increase in total subscribers. Highest quarterly increase since Q4-2022 Q3-2024 Q4-2024 Q1-2025 Q2-2025 Q3-2025 •
Slide 25: Bezeq International | Q3-2025 Summary
Bezeq International | Q3-2025 Summary Continued transition from consumer ISP Adj. EBITDA increased 2.6% to NIS 40 focus to development of ICT business million. Adj. Net Profit grew 14.3% to activity: communications, data centers, NIS 16 million integration, public cloud and cyber Revenues increased
Slide 26: Thank You!
Thank You! For more information please visit us ir.bezeq.co.il
Bezeq The Israel Telecommunication — Q3 2025 Earnings Presentation on 6ix